Mobile payments: how can banks seize the opportunity?

While the initial market adaption of mobile payments was slow and sporadic, it is now seen as a centrepiece in the channel strategy of banks and other financial institutions. The availability of new technologies, standardisation, customer demand, and sustainable business models has opened up new opportunities in a €140 billion market. These can only be achieved by understanding the dynamics of the developed and emerging markets; the roles of the different players in the ecosystem; the different innovative technologies that are available; and by having a clear market strategy.